This invention relates generally to money transfers. More specifically the invention relates to money transfers initiated via augmented reality enabled systems.
Currently, initiating a financial transfer or money transfer can be at least somewhat time consuming. In the case of financial transfers, even credit card systems can be delayed during common nationwide heavy use periods. In the case of money transfers, additional identification requirement of both the sender and receiver can consume time and other resources of both the parties and the money transfer service.
Additionally, the above systems do not even contemplate the use of an additional identity verification source that most people carry, a mobile phone or other device. These devices are often associated with individuals and/or financial accounts, and yet this information is not often referenced to verify identities and/or initiate and complete financial transactions.
Embodiments of the present invention provide solutions to these and other inefficiencies and problems.